CIC’s Annual Private Sector Banquet

Damion Hobson
Damion Hobson

(ZIZ)– The St. Kitts And Nevis Chamber of Industry and Commerce held its 31st Annual Private Sector Banquet at the St. Kitts Marriott Resort on Saturday.

At the banquet, leading businessmen and women discussed and shared their perspective on the performance of the Federation’s economy over the last year.

President of the Chamber of Industry and Commerce, Damion Hobson commended the government for working with the International Monetary Fund (IMF) on improving the local economy.

“The Chamber congratulates government on the state of an improved economic environment in the country on a whole as seen through the eyes of the IMF,” he said.

“However, at the same time, permit me to repeat the last portion of the IMF quote, and I quote again, “The recovery in economic activity is not yet translated in to increased leverage for the private sector as banks remain cautious,” he added.

However, Hobson outlined as an area of major concern the Federation’s continued decline in the World Bank’s Ease of Doing Business Report.

“Our country’s reduced ranking in the ‘ease of doing business’ as set out by the World Bank is therefore discouraging and of concern to all of us. Out of 189 countries now included in this report, our ranking was 84 in 2011, in 2012 we ranked 95, in 2013 it was 97 and in 2014 its 101. We are understandably concerned that our ranking is not heading in the direction of preference,” he said.

The Chamber’s Annual Private Sector Banquet was held under the theme, “Developing and Maintaining a Sustainable Citizenship by Investment Programme.”

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